Is climate change taking a backseat in the agenda of global alliances?

The first major alliance of countries was created during the oil crisis of 1973. France, West Germany, Italy and UK in Europe, USA and Canada in North America, and Japan in Asia joined hands with the apparent objective of mutual benefits through cooperation in trade and commerce. As the group of seven nations (G7), they represent 10 per cent of global population (0.8 billion) and 46 per cent of global GDP (US$ 34,456 billion), thus having a per capita GDP of $45,453. They contribute 34 per cent of the global exports and 37 per cent of its imports. Not surprisingly, G7 is popularly called the rich nations club.

The G7 inspired formation of larger such alliance called Group of 20 nations, which had representation from Asia, Middle East, Australia, Europe, North America and South America. The group accounts for 64 per cent of global population, 76 per cent of global export and import, but its per capita GDP is $13,602, less than a third of G-7 countries.

The youngest of the major global alliances is BRICS—Brazil, Russia, India, China and South Africa—representing Europe, Asia and South Africa. While G-7 and G-20 came up in 20th century, the first meeting of BRICS was held in 2006. South Africa joined the alliance in 2010. There five countries have 42 per cent of global population and 22 per cent of global GDP, only 10 per cent of global export and 15 per cent of global import. It has lowest GDP per capita at US $ 5,401. BRICS set up a bank called 'The New Development Bank', in 2015 with a target of setting up of capital investment of USD 50 billion but in 2016 it could only mobilize USD 1 billion and so far it has made no contribution made for climate finance.

http://www.downtoearth.org.in/blog/is-climate-change-taking-a-backseat-in-the-agenda-of-global-alliances--58637

World Bank

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